Fannie Mae’s and Freddie Mac’s loan-loss reserves could be substantially impacted by a new accounting standard that requires companies to immediately book potential losses.
At the direction of the Federal Housing Finance Agency, Fannie Mae and Freddie Mac have simplified policies on short sales and deed-in-lieu of foreclosures. The new policies are intended to mitigate losses for the government-sponsored enterprises and servicers by spelling out when servicers can consider borrowers for these actions and what documentation is necessary.
It’s now possible for homebuyers to use sweat equity to pay their entire downpayment and all closing costs as Freddie Mac has expanded the parameters of its Home Possible mortgage.
Fannie Mae and Freddie Mac extended disaster relief provisions to areas in California that have been ravaged by wildfires and declared major disaster areas by President Trump.
Retail-originated loans securitized by Fannie Mae, Freddie Mac and Ginnie Mae during the third quarter generally had stronger credit scores than similar loans produced by third-party lenders, according to a new Inside Mortgage Trends analysis of loan-level data. The average credit score for a retail purchase loan pooled in an agency mortgage-backed security during the period was 735.47, compared with 720.20 for correspondent purchase ... [Includes two data charts]
A new poll being conducted by Inside Mortgage Finance/IMFnews shows that 47 percent of lenders are contemplating originating non-QM mortgages in 2019...
RSS